The build under mac OS X 10.3.9 fails (no such problem under Mac OS X 10.4.7) with the following:

mkdir .libs/libcairo.lax
rm -fr .libs/libcairo.lax/libpixman.a
mkdir .libs/libcairo.lax/libpixman.a
Extracting /tmp/cairo-1.2.0/src/../pixman/src/.libs/libpixman.a
(cd .libs/libcairo.lax/libpixman.a && ar x /tmp/cairo-1.2.0/src/../pixman/src/.libs/libpixman.a)
gcc -dynamiclib  -o .libs/libcairo.2.9.0.dylib  .libs/cairo.o .libs/cairo-arc.o .libs/cairo-array.o .libs/
cairo-base85-stream.o .libs/cairo-cache.o .libs/cairo-clip.o .libs/cairo-color.o .libs/cairo-
debug.o .libs/cairo-fixed.o .libs/cairo-font.o .libs/cairo-font-options.o .libs/cairo-gstate.o .libs/cairo-
hash.o .libs/cairo-hull.o .libs/cairo-image-surface.o .libs/cairo-lzw.o .libs/cairo-matrix.o .libs/cairo-
operator.o .libs/cairo-path.o .libs/cairo-path-bounds.o .libs/cairo-path-data.o .libs/cairo-path-
fill.o .libs/cairo-path-stroke.o .libs/cairo-pen.o .libs/cairo-polygon.o .libs/cairo-rectangle.o .libs/
cairo-region.o .libs/cairo-scaled-font.o .libs/cairo-slope.o .libs/cairo-spline.o .libs/cairo-stroke-
style.o .libs/cairo-surface.o .libs/cairo-surface-fallback.o .libs/cairo-traps.o .libs/cairo-pattern.o .libs/
cairo-unicode.o .libs/cairo-output-stream.o .libs/cairo-wideint.o .libs/cairo-meta-surface.o .libs/
cairo-paginated-surface.o .libs/cairo-analysis-surface.o .libs/cairo-ft-font.o .libs/cairo-ps-
surface.o .libs/cairo-pdf-surface.o .libs/cairo-png.o .libs/cairo-svg-surface.o .libs/cairo-font-subset.o 
.libs/cairo-type1-subset.o .libs/cairo-scaled-font-subsets.o .libs/cairo-xlib-surface.o .libs/cairo-xlib-
screen.o .libs/cairo-quartz-surface.o  .libs/libcairo.lax/libpixman.a/fbcompose.o .libs/libcairo.lax/
libpixman.a/fbedge.o .libs/libcairo.lax/libpixman.a/fbpict.o .libs/libcairo.lax/libpixman.a/
fbtrap.o .libs/libcairo.lax/libpixman.a/icblt.o .libs/libcairo.lax/libpixman.a/icbltone.o .libs/libcairo.lax/
libpixman.a/iccolor.o .libs/libcairo.lax/libpixman.a/icformat.o .libs/libcairo.lax/libpixman.a/icimage.o 
.libs/libcairo.lax/libpixman.a/icpixels.o .libs/libcairo.lax/libpixman.a/icrect.o .libs/libcairo.lax/
libpixman.a/icstipple.o .libs/libcairo.lax/libpixman.a/ictransform.o .libs/libcairo.lax/libpixman.a/
ictrap.o .libs/libcairo.lax/libpixman.a/ictri.o .libs/libcairo.lax/libpixman.a/icutil.o .libs/libcairo.lax/
libpixman.a/pixregion.o .libs/libcairo.lax/libpixman.a/renderedge.o   -L/usr/local/lib -L/usr/X11R6/
lib -lSM -lICE /usr/local/lib/libXrender.dylib /usr/X11R6/lib/libX11.dylib -lX11 /usr/local/lib/
libpng12.dylib /usr/local/lib/libz.dylib /usr/local/lib/libfreetype.dylib -lz /usr/local/lib/
libfontconfig.dylib -L/usr/local /usr/local/lib/libexpat.dylib  -Wl,-framework -Wl,Carbon -install_name  
/usr/local/lib/libcairo.2.dylib -Wl,-compatibility_version -Wl,12 -Wl,-current_version -Wl,12.0
ld: Undefined symbols:
_CGBitmapContextGetBitmapInfo
/usr/bin/libtool: internal link edit command failed
make[3]: *** [libcairo.la] Error 1
make[2]: *** [all] Error 2
make[1]: *** [all-recursive] Error 1
make: *** [all] Error 2